The contentious divorce of Putin ally Farkhad Akhmedov and his wife, Tatiana, has produced escalating divorce proceedings for nearly two decades. Lawyers for each party have asserted multiple claims of previous divorces that can’t be corroborated, requests for personal emails between father and son, and now—an accusation of champerty regarding Burford Capital’s funding of Tatiana Akhmedova. Technically, the backing of claims by third-party funders in exchange for profit has been illegal in Russia since feudal times.
An LFJ Conversation with Michael Kelley, Partner, Parker Poe
The contentious divorce of Putin ally Farkhad Akhmedov and his wife, Tatiana, has produced escalating divorce proceedings for nearly two decades. Lawyers for each party have asserted multiple claims of previous divorces that can’t be corroborated, requests for personal emails between father and son, and now—an accusation of champerty regarding Burford Capital’s funding of Tatiana Akhmedova. Technically, the backing of claims by third-party funders in exchange for profit has been illegal in Russia since feudal times.
The Guardian reports that Tatiana was awarded a whopping GBP 453MM in 2016, which is roughly 41% of her husband’s assets. Akhmedov disputes the ruling and claims that he and his ex-wife were already divorced 20 years ago. Documents were presented to this effect but were later determined to be forged. The former Mrs. Akhmedova is also pursuing action against her son for his part in Akhmedov’s refusal to pay the award.
Attempts to reap the full award are being backed by Burford Capital. Burford’s participation is considered questionable, as Russia has yet to enact laws regarding litigation funding. Lawyers for Akhmedov are demanding to see the details of Akhmedova’s agreement with Burford. They further assert that funding of this type is not permissible in family law cases.
Assets include a super yacht, a writing desk once used by Napoleon, art by Hirst and Warhol, and other rare antiquities. Lawyers for the Akhmedovs will reference a recent case in Hong Kong that ruled this type of third-party funding illegal.
